Speculation is running rampant because of reports he has ceased to buy time for his TV ads. The wealthy Mesa businessman has been on the airwaves throughout the campaign with TV ads both touting his experience as a businessman and attacking his opponent, Jeff Flake, for being a ‘Washington insider.’

He’s poured in $7.4 million of his own money to fund his campaign, and had spent $3.18 million on media buys through June, his latest report with the Federal Election Commission shows.

With early ballots having just been sent out last week for the Aug. 28 primary, it doesn’t seem to make much sense to reign in the ad campaign at this juncture.

"With just three weeks until the Arizona Republican primary, Wil Cardon is outworking every candidate in the US Senate race,” she said. “He continues to tirelessly travel the state talking with Arizonans, attend as many candidate forums as humanly possible and reach out to voters over the phone and even visit their homes. Wil is not slowing down and neither is his campaign. While we would never reveal campaign strategy for the next three weeks, rest assured, Wil Cardon is in this race to win it."

On Tuesday, Cardon posted a picture of himself during a video shoot for a new TV ad on his Facebook and Twitter accounts. It’s unknown when that TV ad will hit the airwaves. Pivirotto declined to divulge specfics about that ad buy.

“I wanted to share with you a photo from this morning's video shoot for my new TV ad,” Cardon wrote. “I'm excited for the last three weeks of this primary race and can't wait to see all of you out on the campaign trail!”

Cardon entered this U.S. Senate primary race as an political unknown and longshot to defeat Flake, a six-term U.S. Congressman.

Although Cardon has made himself known to many of the state’s voters through his travels and TV, radio and online ads, he has never been closer to Flake than 22 percentage points in publicly-released polls.